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Boston Fed chief seeks more help for housing

By Erin Ailworth

 |  Globe Staff  

  January 10, 2012

Efforts to fix the nation’s struggling housing market should focus on converting foreclosed homes into rental properties and making it easier for homeowners to refinance, Eric Rosengren, president of the Federal Reserve Bank of Boston, said yesterday. He called on government-owned mortgage companies Fannie Mae and Freddie Mac to adopt policies that would help developers buy vacant homes and turn them into rental properties. That would not only clear the market to distressed properties but also help moderate rents,.

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